Luxury Home Market Report for February 2014

Luxury Home Market Report for February 2014

The Institute for Luxury Home Marketing Luxury Composite Price this week is $1,319,800. These homes have been on the market for an average of 175 days.

The Market Action Index measures the available supply relative to the current level of demand. Index value above 30 indicates conditions favor the seller. This week's index value is 29.

Luxury Market Price

Luxury home prices across the ILHM sample have stayed relatively stable in recent weeks. This week's median price is $1,319,800.

Luxury Home Price Per Square Foot

Price per square foot gives us a view to changes in how luxury homes are valued as well as how they're being constructed. Currently median price per square foot in the luxury homes is $349.

Luxury Supply And Demand

Residential prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained trends and an early view on coming price changes.

The ILHM National market is currently in the Buyer's Market zone (below 30), though not strongly so. The Market Action Index stands at 29 so luxury buyers should expect to see reasonable levels of selection.

Luxury Inventory

This chart illustrates the total number of homes in the ILHM sample each week. These are homes on the market for at least $500,000 in the top 10 zip codes for 31 major metro markets around the county.